UMB Bank n.a. Increases Position in CoStar Group, Inc. (NASDAQ:CSGP)

UMB Bank n.a. raised its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 6.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,653 shares of the technology company’s stock after buying an additional 4,778 shares during the period. UMB Bank n.a.’s holdings in CoStar Group were worth $5,917,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CSGP. ORG Partners LLC boosted its holdings in shares of CoStar Group by 534.8% in the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after purchasing an additional 353 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of CoStar Group in the third quarter valued at approximately $40,000. Quarry LP purchased a new stake in shares of CoStar Group in the second quarter valued at approximately $54,000. Brooklyn Investment Group purchased a new stake in shares of CoStar Group in the third quarter valued at approximately $91,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of CoStar Group by 55.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,374 shares of the technology company’s stock valued at $104,000 after purchasing an additional 488 shares during the period. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. BMO Capital Markets reduced their price target on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research report on Monday, December 16th. Citigroup reduced their price target on CoStar Group from $90.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Stephens reaffirmed an “overweight” rating and set a $103.00 price target on shares of CoStar Group in a research report on Thursday, January 2nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $83.00 target price on shares of CoStar Group in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, CoStar Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.92.

CoStar Group Trading Up 0.6 %

CSGP stock opened at $73.85 on Monday. The company’s 50-day simple moving average is $74.67 and its 200-day simple moving average is $75.34. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38. The firm has a market cap of $30.28 billion, a P/E ratio of 167.84 and a beta of 0.85.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The business had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. During the same period in the prior year, the company posted $0.25 EPS. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, equities analysts forecast that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Insider Activity at CoStar Group

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the sale, the insider now owns 58,798 shares in the company, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the sale, the director now owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by corporate insiders.

CoStar Group Profile

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.